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Sahashi May Have Misappropriated Funds

More villainy. The knives are out for Sahashi as a former executive accuses him of misappropriating funds. Here's a translation of an article in the Chugoku Shimbun.

Students Not Impressed With Buyout

You now know that Nova is officially finished. G.Communication has decided to take over and reopen 30 schools and eventually expand to 200 schools. It's a raw deal for instructors. Since there's no time frame for when all 200 schools will be reopened it's a safe bet that most teachers won't be getting their old jobs back. How much longer can one sit around and wait?

Nova Finds a Buyer

The Asahi Shimbun is reporting that Nova has found someone to take over part of its business.

Sahashi's Feeble Rebuttal

Your company is in ruins. Your board of directors has ousted you in a coup d'etat and you are no longer in control. You have liabilities totaling nearly 100 billion yen. You haven't paid your employees in months.

Diary of an Ekimae Ryuugaku Ripoff

The Sankei Shimbun makes the Nova collapse personal. Here's a translation of a recent article.

The Money Pit

What's the attraction for bailing out Nova? It doesn't produce anything tangible and it doesn't own its schools. Given recent reports, if Nova makes anything, it's a giant mess.

The Japan Times

Sahashi Admits to Delaying Salaries

The Asahi Shimbun has reported that the Osaka Labour Bureau questioned former Nova president, Nozomu Sahashi, on November 2.

Tokyo Journal in 1991: A Sure Thing

I was cleaning out my closet, and way at the back I found photocopies of an article on teaching English tilted "The Sure Thing" from the June 1991 edition of the Tokyo Journal. I thought this would be an interesting read. You might want to download the full-size images if you find the text too small to read.

Will Work For Food

This is what is has come to:

A Broken Business Model

In the final installment of its three-part series, The Daily Yomiuri touches on something that I commented on last night: that Nova's business model was fatally flawed.

The Daily Yomiuri:

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